Cryptocurrency Today: Venezuela’s use of Bitcoin grows, TRX gets adopted by ABCC exchange, Satoshi Nakamoto returns to P2P account, Tom Lee still bullish on BTC, G20 plans to regulate crypto

Bitcoin transactions surge in Venezuela, while the country’s national coin grows by 150%

Due to sanctions imposed on Venezuela, the country’s fiat currency lost its value to the point where it was rendered useless. As a result, citizens opted to turn to cryptocurrencies.
Turning to crypto has made lives easier for countless Venezuelan citizens and families, and analysts say that Bitcoin is the central asset.

According to Coin Dance’s data, Venezuela is responsible for sending over 1,284 BTC in transactions that are mostly carried out via a P2P platform called Localbitcoins.

In addition, just last week, the country’s president, Nicholas Maduro, decided to devalue the country’s fiat currency, Bolivar, by 40%. However, he also raised the minimum wage in Bolivar by 150%. At the same time, the country’s national cryptocurrency, Petro, saw the same increase.

TRON (TRX) cryptocurrency gets listed on ABCC Exchange

According to the recent tweet posted by the CEO and founder of TRON (TRX), Justin Sun, TRX coin can now be traded on ABCC Exchange. The exchange has a large community that includes over 12 languages, it features many very useful products, and it has a daily trading volume that exceeds $40 million per day.

In addition, Sun also announced two new trading pairs, one against Bitcoin (BTC), and the other one against Ethereum (ETH). Finally, Sun stated that TRON will be giving out rewards in order to celebrate this new move, more of which can be found out by visiting the TRON Foundation’s Medium page.

The reappearance of Satoshi Nakamoto: What does this mean for the future of crypto?

After being inactive for full four years, the mysterious creator of Bitcoin — Satoshi Nakamoto — finally became active once more. The activity was noticed recently at his P2P Foundation account, where the cryptic message “nour” (quotation marks included) was posted.

Since then, many have questioned whether or not this is really Satoshi himself, as there is a suspicion that his account might have been hacked some years ago. Some speculate that Satoshi might have returned due to Craig Wright’s recent claims that he himself is the individual behind the alias Satoshi Nakamoto.

For now, there are more questions than answers, including why is Nakamoto back, what does his message mean, and more.  However, the crypto community continues to watch for any new activity connected to him in any way, hoping to get a solution to the mystery.

Tom Lee continues to predict a bright future for Bitcoin and several altcoins

Tom Lee, a known Bitcoin bull, has been known for giving more than optimistic predictions regarding potential directions that the BTC price might take. Considering the bearish 2018, as well as the second market crash due to BTC oversale and BCH hard fork, most of them will likely not come true.

However, he remains convinced that HODLers of Bitcoin, Ethereum, and XRP have the highest chance of making a profit, even if it takes several years, or even an entire decade. He believes that there are numerous projects that are likely hopeless. However, these top three coins are the ones to go after, according to Lee.

G20 declares intent to regulate crypto in accordance with FATF standards

The G20 Countries have just joined forces in Buenos Aires in order to sign a declaration that claims they will regulate digital currencies in accordance with FATF standards. Doing this is also expected to prevent the use of digital currencies for financing terrorism, as well as to prevent money laundering.

Considering that FATF was originally created to prevent these issues, it is not surprising that there is interest in using the same rules to bind crypto. The idea to do this originated earlier this year and the organization also intended to accommodate market realities. The G20 added that further development will be tracked in order to provide the best solutions for the rapidly digitalized global economy.

Crypto Market Price Today

Please enter Coingecko Free Api Key to get this plugin works.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.